The global wheat market has experienced a negative and horizontal trend during the last year. To decrease the problems and instability, there are some precautions about protecting the success of the wheat prices. Especially, India was the leading country which has taken some decisions about the wheat market. Indian Finance Minister Arun Jaitley has reported that India has removed 10 % import tax on wheat for the worst of the worst in stocks and stocks following the drought in 2014 and 2015. Jaitley noted that the latest tax practice has taken immediate place without a deadline, which allows companies like Cargill, Louis Dreyfus, and Glencore to increase their imports. It was also reported that the tax practice was causing the government's doubts about wheat production estimates.
On the one hand, in the markets, the amount of net position at an extremely high level in one direction indicates the approximate time of the start of the opposite direction. If the move triggered by fund purchases over the past week means that the long positions of traders are peaking, the bullish momentum may accelerate. In this type of movement, those outside the market may want to follow the trend and join the trend. However, market dynamics are probably not willing to give them the opportunity to buy. In short, short-term retreats in the wheat market may be a buying opportunity for medium-term thinkers. For traders, consumers can hedge at these levels if they do not take measures to protect against rising prices.
- Date: 08 January 2017 Sun 12:34
- Last Added
French Presidential elections are affecting the positive atmosphere on Euro
French Presidential elections are affecting the positive atmosphere on Euro...
Inflation rate is testing record levels in Turkey
Inflation rate is testing record levels in Turkey...
Non-farm payrolls data of the USA increased
Non-farm payrolls data of the USA increased...
Fed's politics interest decision gives direction to the global markets
Fed's politics interest decision gives direction to the global markets...
Oil market is trying to find a direction
Oil market is trying to find a direction at the last times....